__________ are the goods which have been committed to production but the finished goods have not yet been produceda.WIPb.raw materialsc.toolsd.spare parts

These are goods which have not yet been committed to production in a manufacturing business concernSelect one:a.Work in Progressb.Raw materialsc.Goods in Transitd.Finished Goods

___________ are those goods which have been purchased and stored for future productions.a.spare partsb.finished goodsc.whipd.raw material

This includes materials which have been put into production process but have not yet been completedSelect one:a.Work in Progressb.Goods in Transitc.Finished Goodsd.Raw Materials

This is the completed products and is already final output of the production processSelect one:a.Raw materialsb.Work in progressc.Finished Goodsd.Goods in transit

Which of the following would be considered merchandise inventory?Multiple choice question.Raw materialsPurchased finished goodsWork in processCost of goods sold